Do you need $2,000 in a hurry? With a Wallet Wizard Small Cash Loan, you get repayment flexibility and a transparent fee structure.

The Wallet Wizard Small Cash Loan lets borrow any amount between $100 and $2,000. Upon the approval of your loan, Wallet Wizard gives you different repayment schedules from which to choose, so you can go with one that suits you best. What helps is that you can apply for the Wallet Wizard Small Cash Loan even if you have bad credit.

If you choose to take this loan you don’t have to worry about any kind of hidden fees and costs, because all the charges are laid out clearly before you apply. All borrowers have to pay application fees and monthly account-keeping fees, which are outlined on the page below.

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Rates last updated December 10th, 2016

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Warning about Borrowing

Do you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan

If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

How do Wallet Wizard loans work?

How these loans work is relatively straightforward. You start by applying for any amount in between $100 and $2,000, and the loan term depends on the amount you wish to borrow. You can apply for this loan online, and the process takes no more than a few minutes.

You find out the status of your application soon after applying, and the next step is the disbursement of funds from Wallet Wizard. You can receive the funds in your nominated account within an hour from approval, although this depends on the time you accept your contract.

Your repayment frequency takes your salary schedule into account, so your repayments remain timely. You can choose to pay the balance before schedule without worrying about prepayment penalties.

Features of a Small Cash Loan from Wallet Wizard

The Wallet Wizard Small Cash Loan comes with a number of features, and here’s what you can expect:

Repayment flexibility. Repayments are set up according to when you get paid, making it easier to manage and budget your repayments.

Automatic repayments. You don’t have to worry about remembering making repayments towards your loan. Repayments come in via automatic direct debits through a nominated account on the day they’re due.

Flexible loan terms. Unlike a standard payday loan, this loans doesn't come with extremely short loan terms, so you don’t have to worry about making large payments. For up to $600, loan terms can vary in between four months and six months, if you’re borrowing in between $600 and $1,200, loan terms can extend up to nine months, and for loan amounts between $1,200 and $2,000, loan term varies in between six and 12 months.

Maximum fee guarantee. Just how much you end up paying as fees depends on how much you borrow and your loan term, but Wallet Wizard guarantees that fees will never exceed 100% of the amount you borrow. This is for no matter how long the loan term is.

No early termination penalty. If you run into some money and want to pay the loan off ahead of time you can do so easily, and you don’t have to pay any early termination fees.

Fees and charges

Take just about any kind of loan and you’ll have to end up paying some kind of fees and charges, and the Wallet Wizard Small Cash Loan is no different. One advantage is that this loan does not attract any early repayment fees. Details about other fees and charges it attracts are as follows:

Application fee: 20% of the sum you borrow

Monthly account keeping fee: 2% of the sum you borrow

Printed statement fee: $0

Reprinted statement fee: $0

Late payment fee: $0 if you contact Wallet Wizard before the due date to make suitable arrangements. If not, $10.

How to apply for a Small Loan from Wallet Wizard

Applying for a Wallet Wizard Small Cash Loan is easy, and you can complete the process in around 10 to 15 minutes. You can apply online, but before you begin, make sure you meet the following eligibility criteria:

You’re at least 18 years old

You’re a permanent Australian resident

To complete the application, you have to provide different kinds of information, details of which are as follows.

Details from your Australian driver’s license, passport or Medicare card (you’ll have to choose two)

Your employment details

Information regarding your finances and current loan commitments

Your Internet banking details or your bank statements from the last 90 days

Your BSB and account number

Details of any credit contract you've repaid in the last 90 days

If you need money in a hurry, and not too much, you can consider applying for the Wallet Wizard Small Cash Loan, but since there are other similar personal loans out there, make sure you compare a few before deciding.

Related Posts

Do you want access to a flexible line of credit of up to $5,000? Wallet Wizard's Smart Loan can give you just that. You don't need perfect credit history to apply and you can submit your application online. Read the review and see if you're eligible.

Bad credit unsecured loans are a kind of loan intended for borrowers who have bad credit history and with a maximum loan amount of $5,000. With no security required this may be a financing option for you if you have bad credit.

If you have bad credit and need a loan up to $5,000 you could apply for a MoneyStart loan and have the funds in your account on the same day if approved. The process is quick and completely online, so read the review and find out if you're eligible.

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16 Responses to Wallet Wizard Small Cash Loan Review

Peter |
February 12, 2016

I’m broke and my financial status isn’t looking good and its ready to stress me out bad..

While I can’t offer you any personal advice, there is a free financial counselling service you can call on 1800 007 007. You may also want to consider some of the community financial assistance programs listed in one of your guides in this section.

If you are approved before 2.30pm on a business day you will receive your money that same day – usually around two hours, but sometimes up to three. If you are approved on the weekend or after the 2.30pm cut-off time on a business day, you will need to wait until the following business day to receive your funds.

I need to apply for a loan of $1000 dollars to register my car and keep getting turned away. I’m just wondering can you still apply for a loan if you are unemployed on benefits and if you have a bad credit rating thank you Tiffany

You are able to apply for a Wallet Wizard loan if you are receiving Centrelink benefits and have bad credit. The main thing they look for is your ability to manage your repayments. If you’re looking to submit your application you can do so on the Wallet Wizard website.

I have tried wallet wizard and was declined I have tried 27 on line loan companies and have been declined for all of them no one will give me a chance. I have never had a loan before and can’t get one because no one is willing to let me prove to them that I can make the repayments. If no one gives me a chance I have no hope

There are a few reasons why a lender may decline you for a loan, but it comes down to you not meeting its lending criteria. Each time you apply for a loan the enquiry will be listed on your credit file and the rejected application may affect your chances to be approved for further loans, which may explain why you’ve had trouble being approved. I’m unable to give you personal advice but you may want to give the free financial service a call on 1800 007 007. You can also consider the alternative loan options listed here and see if you’re eligible.

Thanks for your comment and sorry to hear about your experience with Wallet Wizard. Your first step to rectifying this would be to get in contact with Wallet Wizard – if they have not sent you the money yet you shouldn’t be required to make repayments.

If they cannot solve the issue for you in a timely manner or do not honour your contract, you have the option of registering a complaint with the Credit and Investments Ombudsmen who can act on your behalf. You can do this on their website.

With the application fee if I say borrow, 2,000 would I only get 80% of that amount? So in all not receiving the full amount I need at all? Correct me if my understanding is flawed I’m new to this loan business thing

If you borrow $2,000 you will need to pay 20% of that amount as an establishment fee on top of the $2,000 you borrow. You will also need to pay a monthly fee that is 2% of the amount you borrow. All of these fees will be added on top of your principal loan amount.

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